Cancer biomarkers are biomolecules that specifies the existence of cancer or cancerous cells in the body. These are generally molecules that are released due to the presence of a tumor or a particular indication in the body to the presence of cancer. These molecules are densely distributed in tissues, urine, serum, blood, and other body fluids. Their expression levels serve as the basis or indication of any abnormal process or a disease.

The market size of the global cancer biomarkers market was valued at $6,521 million in 2015 and is estimated to grow at a CAGR of 13% over the forecast period to reach $15,737 million in 2022. Market growth is attributed to the increasing incidences of cancers such as lung cancer, breast cancer, and prostate cancer among others coupled with growing importance of biological and targeted drug therapies and technological advancements in the field of cancer treatment. However, unregulated government laws and reimbursement policies; as well as high cost of drug development and threat of failure are anticipated to have an adverse effect on the market growth. Nevertheless, advancement in cancer drugs research and significant unmet need in cancer diagnosis are estimated to overshadow these restraints.

The global cancer biomarkers market is segmented based on profiling technology, biomolecules, cancer type, application, and geography. By profiling technology, the market is segmented into omic technologies, imaging technologies, immunoassays and cytogenetics based tests. Based on biomolecules, the market is segmented into genetic biomarkers, protein biomarkers, and glycoprotein biomarkers. Amongst these, genetic biomarkers are widely used in the market owing to better diagnostic and therapeutic usage as compared to protein and glycoprotein biomarkers.

The various cancer types include breast cancer, lung cancer, prostate cancer, colorectal cancer, stomach cancer, and others. Amongst these, lung cancer is the major cancer type where biomarkers are being used for detection. Owing to high tobacco consumption and smoking, lung cancer has increased at an alarming rate. CEACAM-5/CD66e, Cytokeratin 19, EGF R/ErbB1, Enolase 2/Neuron-specific Enolase, Lactate Dehydrogenase A/LDHA, Lactate Dehydrogenase B/LDHB, Napsin A and PDGFRL are some of the major cancer biomarkers used for lung cancer detection.

Geographically, North America is the leading revenue generating region, due to high incidence rate of cancer, growth in awareness towards cancer and higher cancer biomarker testing. Asia-Pacific is growing at the fastest CAGR due to rise in awareness, increased disposable income, and affordability for advanced cancer treatments.

Companies have adopted collaboration and partnership as their key development strategies. Increase in focus on collaboration and partnership is mainly for the development of innovative technologies in the field of cancer biomarkers. In May 2016, Roche received an approval by FDA for its first anti-PD-L1 cancer immunotherapy namely Tecentriq (atezolizumab), thereby expanding its product portfolio.

KEY BENEFITS FOR STAKEHOLDERS:

The drivers, restraints, and opportunities in the global cancer biomarkers market are expected to help in understanding the market behavior better.The market estimations are a result of high-end analysis of the key market segments for the period of 2014–2022Projections in the report are made by analyzing the current market trends and future market potential for the forecast period in terms of value. The analysis helps in understanding the strategies adopted by various companies for the growth of the global cancer biomarkers market.Country level analysis has been done to provide micro market sizing of cancer biomarkers in different regionsPorter's five forces model gives an in-depth analysis of bargaining power of buyers and suppliers, threats of new entrants & substitutes, and competition amongst the key market players.

3.3.1.1 Rise in incidence and prevalence of various cancer types3.3.1.2 Growth in importance of biological and targeted drug therapies3.3.1.3 Expiration of key patents and biosimilars impact3.3.1.4 Increase in acquisitions and collaborations3.3.1.5 Technological advancements3.3.1.6 Accuracy and reliability3.3.1.7 Rise in investment from government, public, and private sectors3.3.1.8 Increase in clinical trials3.3.1.9 Growth in popularity of personalized medicine and companion diagnostics

3.3.2 Restraints

3.3.2.1 High cost of drug development and threat of failure3.3.2.2 Unregulated government regulation and reimbursement policies3.3.2.3 Adverse effects of cancer drug therapy

FEATURED COMPANIES

Cancer Biomarkers Market Report, forecasts that the global market is projected to reach $15,737 million by 2022 from $6,521 in 2015, growing at a CAGR of 13% from 2016 to 2022. Omic technologies segment accounted for more than half of the revenue share in 2015 and is expected to maintain its dominance during the forecast period. Europe and Asia-Pacific together accounted for more than half of the market share in 2015.

The market for cancer biomarkers is primarily driven by rise in prevalence of cancer cases, growing importance of biological & targeted drug therapies, technological advancements, and accuracy & reliability of cancer biomarkers for cancer detection. Moreover, rise in investments from government, public & private sector for biomarker research and technological advancements for cancer diagnostics have a positive impact on the market. However, high cost of drug development, threat of failure, and unregulated government regulations & reimbursement policies could restrain the market. Yet, the impact of these limitations is anticipated to reduce due to substantial surge in cancer diagnosis as well as increased focus towards advanced treatment protocols.

In terms of applications, diagnostics accounted for major share of the global cancer biomarkers market in 2015, and is projected to maintain this trend throughout the forecast period growing at a CAGR of 14%.

In terms of profiling technology, omic technology is the most popular and conventional method for biomarker detection and is projected to grow at a CAGR of 12%. However, immunoassays segment is anticipated to experience higher adoption rate, majorly due to the increase in use of flow cytometry, and is expected to grow at a CAGR of 18% during the forecast period.

In the year 2015, genetic biomarkers accounted for highest revenue share and is expected to grow at a CAGR of 13% during the forecast period. The use of genetic biomarkers for detecting gene mutations and gene expressions is expected to drive the growth of the biomolecule. However, use of glyco biomarkers due to better identification of cancerous gene is further expected to increase the segment growth which is expected to grow by 14% during the forecast period.

Key Findings of the Cancer Biomarkers Market:

Immunoassays are projected to be the fastest growing segment, growing at a CAGR of 18% during the forecast period.Omic technologies is anticipated to be the highest revenue generating segment followed by imaging technologies during 20162022.In the year 2015, genetic biomarkers was the leading segment and is projected to grow at a CAGR of 13%.Use of protein biomarkers was highest in North America, covering approximately 37% of the global market share in 2015.Europe accounted for approximately one-third of the global cancer biomarkers market in 2015.Asia-Pacific is estimated to be the fastest growing region in cancer biomarkers market, growing at a CAGR of 14%.Mexico is projected to be the fastest growing country in the North America region growing at a CAGR of 13% during the forecast period.China and Japan were the leading markets for cancer biomarkers in the Asia-Pacific region covering three-fifth of the total market in 2015.North America dominated the global cancer biomarkers market. This is primarily attributed to the biomarker discoveries resulting from technological advancements. Moreover, rise in awareness about cancer as well as availability of better treatment facilities has also fueled the market growth. Europe and Asia-Pacific together accounted for around half of the market in 2015.